KINGSBARN TACTICAL BOND ETF (KDRN) Exchange: NYSE ARCA

TheFund seeks to achieve its investment objective by investing in a combination of exchange-traded funds (“ETFs”) focusingon fixed-income investments ( “Underlying Bond Funds”) and futures contracts on 10-year U.S. Treasury notes (“10-YearTreasury Futures”). The Adviser will attempt to construct a diversified portfolio of Underlying Bond Funds that offer themost attractive risk-adjusted return characteristics based on the Adviser’s analysis of the Underlying Bond Fund’stotal return, volatility, liquidity and fee structure. The Fund’s portfolio is selected by identifying Underlying Bond Fundsfocused on a range of fixed-income instruments that provide exposure to various credit qualities and issuers to enable the Fundto navigate a variety of market conditions. The Fund normally holds between eight and twelve Underlying Bond Funds but, at times,may hold more or less and may shift its investments among fixed-income instruments depending on the Adviser’s assessmentof market conditions and the suitability of investment opportunities. Under normal circumstances, the Fund invests at least 80%of its net assets in bonds and other fixed-income securities through its investments in the Underlying Bond Funds. TheAdviser tactically manages the duration exposure of the Fund’s bond portfolio to generate excess returns. The managementof the portfolio’s duration exposure is driven by a directional, short-term interest rate forecast by the Adviser whichthen drives the Adviser’s decisions to purchase or sell the 10-Year Treasury Futures for the Fund’s portfolio. Asthe Adviser’s interest rate outlook changes, the portfolio’s average duration is adjusted through the use of efficientand liquid 10-Year Treasury Futures to coincide with the Adviser’s directional interest rate forecast. When the Adviserexpects interest rates to fall, the average duration of the portfolio will be lengthened in order to get the maximum benefit fromthat expected interest rate change. On the other hand, if the Adviser’s expects interest rates to rise, the portfolio’saverage duration will be shortened, moving it closer to zero, to minimize the negative effect on the Underlying Bond Fund values.The forecasting process is systematic and utilizes multiple market based, economic and technical factors.  TheFund may invest in Underlying Bond Funds that that provide exposure to U.S. and international fixed-income securities, includingemerging markets securities, of any maturity or duration. The Underlying Bond Funds may hold fixed-income securities of any creditquality, including below investment grade or “junk” bonds. The Fund may also invest in Underlying Bond Funds that,without limitation, purchase fixed-income securities in any sector and issued by companies, municipalities or government bodiesof any size. The fixed-income securities in which the Underlying Bond Funds invest include corporate debt obligations, obligationsissued or guaranteed by the U.S. and foreign governments, their agencies and instrumentalities, municipal debt obligations, bankobligations, mortgage-related securities (including those that are issued on a when-issued or delayed delivery basis) and asset-backedsecurities, commercial paper, repurchase agreements, obligations of other domestic and foreign issuers, securities of domesticor foreign issuers denominated in U.S. dollars or in currencies other than the U.S. dollar, and obligations of supranational organizations.The Underlying Bond Funds may be index funds which means they seek to track the investment results of a particular index (a “targetindex”).  TheUnderlying Bond Funds may also purchase derivative instruments or engage in transactions in derivative transactions, includingswaps, futures contracts and options on futures contracts. The Underlying Bond Funds will generally use the forgoing instrumentsto hedge against interest rate and/or credit risks. The Underlying Bond Funds may use forward foreign currency exchange contractsto attempt to protect against uncertainty in the level of future foreign currency rates, to hedge against fluctuations in currencyexchange rates or to transfer balances from one currency to another. The Underlying Bond Funds may also lend their portfolio securitiesto generate additional income. TheAdviser will rebalance the Fund’s allocation in Underlying Bond Funds to an equal-weight allocation on an annual basis.The Adviser may sell an Underlying Bond Fund as part of its annual re-balancing or to invest in another security believed to offersuperior investment opportunities based on the Adviser’s investment criteria discussed above. The Adviser may add new UnderlyingBond Funds or replace or eliminate existing Underlying Bond Funds without notice or shareholder approval. The Fund may hold cashor invest in short-term paper and other short-term investments (instead of allocating investments to an Underlying Bond Fund)as deemed appropriate by the Adviser. TheFund intends to operate as a “diversified” fund under both the rules and regulations of the 1940 Act and Sub-ChapterM of the Internal Revenue Code.